DELAYED, BUT ONLY TO MAKE IT BETTER

THE FINE PRINT...

Editors: Bernard 'Barney' Zick bernard@zick.com and Amy McIntee amy@emcii.com

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The REIT Real Estate Report is published about once a month. It is intended to serve no special or worthwhile purpose -- it is just my way of telling you what is going on in the world of real estate education. My only goal is that I don't get sued and you are entertained a bit! For an e-newsletter of merit, our next issue of Advice for the Impatient Investor will be out the first week of July.

SDI (RON LeGRAND'S OLD GROUP) IS SOLD (back to top)

According to Ron LeGrand, at the end of last year, he was locked out of his office and served with a lawsuit by his own firm, Success Development Institute (SDI). The company sent something out about him asking for too much money, etc., but the entire story was not pretty. The big mistake was that most of the folks that followed SDI loved Ron! So, they lost the backing of most of their clients.

This spring, SDI had a convention with no known speakers then cancelled their Vegas convention. Next, the new President decided that SDI should do continuing education credit courses for their boot camps making the courses more of a college style learning experience. I did one event for them under that format (they paid me; on time too), but the crowd was almost not there and many were unhappy because they changed the content at the last minute. I told them, when asked by people still at the company, that they were making one mistake after another.

Last month I heard that they had settled with Ron. This week I heard that Russ Whitney's group has purchased SDI. Many of the old hands are gone already (most had already gone, but many of the few that were still there have now left). Russ SAYS that nothing will change, but all firms taking over the competitors say that!

What happened? Now, this is my fairy tale and only in part based on fact. I met Ron when he was President of the Jacksonville REI group. He was a sharp cookie and really loved marketing. He hired a friend of mine, a hot shot marketing guy out of Phoenix, and started building the seminar and educational products company. When he went public, he did not raise enough cash to make it over the hump. So, he brought in an outside investor who soon tried running things and soaked up all the cash. Poor Ron ran from one department to the next, fixing things in one area while the other areas fell apart. As time went by, more and more outsiders were brought in and they paid less attention to Ron. Big mistake. He built it and he knows best how to run it. Now the future of SDI is unknown. It will either be folded into Russ Whitney's operations or it will run as he directs. Meanwhile, Ron is in high gear, doing event after event.

SAD NEWS (back to top)

Maybe you already know this, but I have to mention it. In late April, I was in Chicago doing a two-day for MSI (Robert Allen and Mark Victor Hansen). It was a fabulous event that was well attended.

Ernie Kessler spoke on the second day. A few days later, his best friend, Paul Bauer, called me to tell me Ernie had passed away on April 30^th from a massive heart attack.

Ernie was a character. He loved good food, good wine and good friends. He also loved to do real estate deals and he was smart enough to start doing them with students long ago. He built a very impressive portfolio with holdings all over the U.S. -- nice to find an instructor that does what he teaches.

I met him when he was President of his local Baltimore Real Estate Investor Association. He had me booked for an event, nearly 15 years ago, and he forgot to tell me he cancelled the meeting until after I had traveled to the city. I did not know him well at that time. I was upset but said nothing. When a mutual friend told me he was working with Ernie, I told him that Ernie was not on my favorite person list due to the fact I had to eat over $800 in an airline ticket because of him. Within three days, I received a Federal Express envelope containing a check for $1000. Ernie said the extra was for "interest" -- few people would have done that. We were great friends from that point forward.

When I heard the sad news of Ernie's death, I offered to help with students that would be left out in the cold but others quickly took care of them. If you did not know Ernie, you missed knowing a great guy. He could make constructing a nuclear weapon sound easy. He knew real estate foreclosures cold and loved to buy real estate notes. I have an interview with him on my Foreclosure album. We taped it in Hawaii and had a ball doing it.

Ernie was not married. The hundreds of thousands who met him will miss him. He was only 49 years old.

DELAYED, BUT ONLY TO MAKE IT BETTER (back to top)

We have postponed the Foreclosure Fortunes Boot Camp we scheduled for July in Houston. However, the Creative Financing Boot Camp on July 8^th & 9^th in Houston is still a definite! (See Upcoming Seminars and Boot Camps at www.zick.com for more information.)

We may schedule our Foreclosure Fortunes Boot Camp in California instead since we're getting indications of much more interest for this type of event there. Send us an email with your thoughts about this blockbuster four-day event! - reitbootcamp@kingwoodcable.net

TOO MUCH OF A GOOD THING! (back to top)

We booked a room in Seattle for 100 people, and then 125 and now we have 150 people pre-registered for our Creative Financing Boot Camp on June 21^st & 22^nd in Seattle. If you have not signed up yet, I suggest you consider attending in Houston July 8^th & 9^th for much more personal attention. Your next opportunity to attend this new Boot Camp will be November 15^th & 16^th in Chicago.

Yes, we know we need to book another Options Boot Camp! We will have one August 9^th & 10^th in Phoenix. (See Upcoming Seminars and Boot Camps at www.zick.com for more information.)

Out schedule for the remainder of this year will be much lighter. I am busy buying property!

We had four super events this year -- Two with Tom Painter and Steve Carlson of MSI, two with BAWB (Bay Area Wealth Builders) in Marin County and, soon to be two with AZREIA (Arizona Real Estate Investors Association) in Phoenix. Just felt like thanking them publicly. I will have contact information for BAWB, AZREIA and other REIA (Real Estate Investor Association) groups on the web site soon.

Your comments, gossip, etc., are welcome. So if you have a story or a question, just put REIT Report in the subject line and send it to Bernard@zick.com.

Make today a great day... it is a decision!

P.S. If you read this far, I think you should receive a prize! A reader gave me the telephone script that their answering service uses to interview people that call when responding to their "we buy houses" ads. You can have a copy at www.zick.com/bonus/telscript.pdf.

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The Fine Print... (back to top)

We will publish two newsletters (Advice for The Impatient Investor and REIT Real Estate Report, approximately once a month. (However, keep in mind, our newsletters are free so don't get upset if we skip one occasionally!)

Advice for the Impatient Investor has been published for thirteen interrupted years (in other words, not on a consistent basis!). The next issue should be out about July 4^th. The REIT Report will go out on or about the 20^th of each month.

Folks smarter than us told us to say: We take no responsibility for the accuracy of the postings. All contents of the postings are the responsibility of the posting party.

We reserve the right to terminate the subscription of anyone at any time.

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